Dubai: the DIFC has topped the global rankings among free zones in attracting FDI for a fifth year running, with the number of companies registered annually going past the 1,000 mark for first time in 2022.

Last year ended with 1,084 entities being licensed to operate from Dubai International Finance Centre, while the free zone’s combined revenues shot past Dh1 billion, also for the first time. It was at Dh987 million in 2021.

Total assets held under DIFC was at Dh15.3 billion end 2022. “DIFC’s growth significantly contributes to the goal of the Dubai Economic Agenda D33 to transform Dubai into one of the world’s top three cities for business,” said Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of the DIFC.

“The DIFC’s 2022 results also reflect the growing demand for a supportive ecosystem from global businesses looking to scale into emerging economies with high-growth financial services markets. With financial technology becoming a vital growth catalyst across sectors, the UAE’s ambitious initiatives to drive the future of finance will create immense opportunities and new economic growth not only in our region but also across the globe.”

The free zone features 4,377 companies in 2022. The Centre also recorded its best performance in additional net commercial space leased with 809,000 square feet leased in 2022, compared to 349,000 square feet in 2021.